Monthly archives: August 2022

Iron Ore DCE January Daily Technical Review 30/08/22

Verdict – Short-term neutral.   DCE iron ore January contract corrected significantly for the second trading day. Hourly MACD widened below 0 axis. Hourly slow stochastic KD entered oversold area. In short-run iron ore potentially test the effectiveness of major support on 672.0 level.   The first support is 672.0. The first resistance is 700.0.

Daily Virtual Steel Mill Report 30/08/22

Market Verdict on Iron Ore： • Neutral.   Macro • U.S. dollar index DXY refreshed new high yesterday at 109, a 20-year-high. Non-dollar currencies experienced fast depreciation in past two weeks. • China Automobile Associaiton: Jan- Jul auto-making profit 273.94 million yuan, down 14.4% on the year, improved 11.1% from Jan-Jun. The auto-making industry contribute …

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India’s Top Court Eases Karnataka Iron Ore Mining Curb 30/08/22

India’s Supreme Court has raised the ceiling on annual iron ore production in the southern state of Karnataka, easing the curbs on the state’s iron ore industry for the second time this year.   The top court raised the ceiling on iron ore mining from 28mn t in the district of Ballari to 35mn t, …

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